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Economically illiterate

Democrats are economically illiterate. High marginal income tax rates do not increase federal revenue except in the first year.

High-income people soon learn how to avoid higher taxes by shifting their investments toward tax-free bonds and toward consumption, thus distorting the markets, raising unemployment, lowering economic growth and hurting the very people who are supposed to benefit.

This has all been well-known for a century and proven several times, but low-information, emotional politicians and their voters never learn.

Donald Tork, Thousand Oaks

Read or Share this story: https://www.vcstar.com/story/opinion/readers/2019/01/14/economically-illiterate/2577088002/